For its mix of sustainable finance structuring expertise and innovation in retail banking, ING wins the award this year.
AfE 2024
The Dutch bank demonstrated its expertise and capabilities across key areas of the German sustainable finance market, where it picks up mandates both advising – either as sustainability adviser or coordinator – and bookrunning transactions for a range of issuers across sectors and asset classes.
In total last year, ING supported 85 sustainable finance transactions (an increase of 55% on 2022), worth a total of about €20 billion, for some of Germany’s corporate elite across the domestic loan, bond and Schuldschein markets.
Among many notable transactions, some of the standouts include: advising and bookrunning software firm SAP’s €3 billion sustainability-linked syndicated revolver; a €750 million sustainability-linked bond for Heidelberg Materials; a €2 billion green bond for Volkswagen Financial Services; and a €850 million sustainability-linked Schuldschein for healthcare equipment provider Fresenius.
ING was also involved as global coordinator, active bookrunner and arranger on a slew of sustainable and green bond issues for German banks – demonstrating that it is a trusted partner among its peers – and supported the €4.2 billion debt financing of the world’s first large-scale green steel plant.
Along with the advice and financing power it provides its corporate and institutional clients, ING innovated last year in consumer banking, where it introduced a new sustainable feature to its current account.
Called Girokonto Future, the feature is an alliance between ING and the social-impact company called share, which receives a monthly grant of one euro per customer from the bank. As part of the deal, the customer chooses which social project it wants to support from a range that share offers.
In addition, ING is committed to matching all customer deposits in the Girokonto Future segment with corresponding investments in sustainable loans and investments.